ACCO Brands (NYSE:ACCO) Releases Earnings Results, Beats Expectations By $0.06 EPS

ACCO Brands (NYSE:ACCO) posted its earnings results on Thursday. The industrial products company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06, Briefing.com reports. ACCO Brands had a positive return on equity of 12.57% and a negative net margin of 10.15%. The company had revenue of $438.30 million for the quarter, compared to the consensus estimate of $452.73 million. During the same period in the previous year, the business earned $0.38 earnings per share. ACCO Brands’s quarterly revenue was down 11.3% compared to the same quarter last year.

ACCO Brands Trading Down 6.6 %

ACCO stock traded down $0.33 on Friday, hitting $4.65. 986,340 shares of the company were exchanged, compared to its average volume of 485,606. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.69 and a quick ratio of 0.95. The stock has a market capitalization of $444.54 million, a price-to-earnings ratio of -17.22, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. ACCO Brands has a twelve month low of $4.46 and a twelve month high of $6.62. The business’s fifty day moving average is $4.84 and its two-hundred day moving average is $5.29.

ACCO Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 16th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.30 annualized dividend and a dividend yield of 6.45%. ACCO Brands’s dividend payout ratio is presently -111.11%.

Analysts Set New Price Targets

Several equities analysts have weighed in on ACCO shares. StockNews.com downgraded shares of ACCO Brands from a “buy” rating to a “hold” rating in a report on Friday. Barrington Research cut their price objective on ACCO Brands from $7.50 to $7.00 and set an “outperform” rating for the company in a research report on Thursday, June 6th.

Insider Buying and Selling at ACCO Brands

In other ACCO Brands news, SVP Angela Y. Jones sold 15,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $4.96, for a total transaction of $74,400.00. Following the completion of the sale, the senior vice president now directly owns 18,621 shares in the company, valued at $92,360.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.30% of the stock is owned by company insiders.

ACCO Brands Company Profile

ACCO Brands Corporation designs, manufactures, and markets consumer, school, technology, and office products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company provides computer and gaming accessories, planners, dry erase boards, school notebooks, and janitorial supplies; storage and organization products, such as lever-arch binders, sheet protectors, and indexes; sheet protectors and indexes; laminating, binding, and shredding machines; writing instruments and art products; stapling and punching products; and do-it-yourself tools.